Michael Eisner Getting Back Into The Game?
Former Walt Disney chairman and CEO Michael Eisner is planning a comeback and is currently looking to raise $800 million for a new production company, CNBC anchor/reporter David Faber said on the cable channel Wednesday, citing people who have been approached about investing. Eisner's fund-raising effort is being led by JP Morgan, which is looking to raise $400 million from investors and $40 million from lenders. Faber said that the company plans to produce four to five films annually and two to three scripted TV series. Since handing over the reins of Disney to Robert Iger in 2005, Eisner has launched a company called Tornante that, according to its own website, has made relatively small investments in or agreed to advise five online companies, but Eisner has not taken a direct hand in movie or TV production. Faber reported that Eisner is expected to invest $20 million of his own funds in the new company.